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Nikkei Markets

After tough year, Olam banks on high-growth businesses

Net profit plunges as prices for many products decline

Over the next six years Olam plans to invest some $3.5 billion in businesses with high growth potential, including nuts, grains, cocoa and coffee.   © Reuters

SINGAPORE (Nikkei Markets) -- Olam International has ceased peanut farming in Argentina, exiting an area where it was once a major player, but the Singapore-based agricultural commodities company plans to continue investing in its edible nuts operation, which its CEO described as a "crown jewel."

Olam last month said it was embarking on a six-year strategic plan investing some $3.5 billion in businesses with high growth potential such as nuts, grains, cocoa and coffee, while getting out of others, including sugar, rubber and wood products.

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